We have just passed another national crisis, this time about raising the debt ceiling. The crisis was resolved by a phony, hypocritical compromise that involved virtually no cuts until after the election.
The only good to come out of it was a focus on at least talking about limiting the growth of the debt. The ridiculous compromise stated in effect that our debt will only double over the decade, to a level that will plunge America into bankruptcy by 2012.
Somehow both idiot parties hail that compromise as a victory.
At least it has some provisions that push our bankruptcy ten years in the future, so that Obama and the Progressives might not bankrupt America in four or five years. Those paltry provisions involve limiting the increase in our debt ceiling, which in turns limits how much spending the Progressives can do.
Never fear, Senator Kerry is here.
Kerry proposes creating an off-balance sheet National Infrastructure Bank, similar to Fannie Mae and Freddie Mac. How did they work out? Kerry wants to create a third monster?
Kerry’s National Infrastructure Bank would not “officially” be part of the Federal Government, so it would be exempt from the debt ceiling, just like Fannie and Freddie are.
Kerry’s Off Balance Bank would borrow $850 billion to “rebuild our nation’s crumbling infrastructure.” Isn’t that almost a trillion dollars?
Didn’t we just decide not to add to our debt?
Every time I see Ed Rendell and other big Democrat talking faces, they pile on “rebuilding our infrastructure.” Why is this such a dominant theme of the Democratic Party? because the Democrats control the local government entities that pass out the infrastructure contracts to the paving and bridge contractors.
I know a 50-year-old man who just sold his paving company because “it got so you had to bribe so many people you couldn’t make any money.”
Legend has it that paving, bridges, and construction of any kind paid by the government involves bribes of 5% to 10% of the contract price.
An $850 billion Infrastructure Bank would provide bribes of $42 to $85 billion, which would enrich elected and appointed Democratic Party members beyond their wildest dreams.
Bear in mind that Valerie Jarrett’s fortune comes from government contracting in Chicago.
Government construction contracts and infrastructure provide the core of the personal wealth of Democratic Party officials.
Senator Kerry, the man who won three Purple Hearts without ever spending one single night in a hospital or clinic, wants us to evade the debt ceiling with another version of Fannie Mae to distribute up to $85 billion in bribes to local Democratic Party officials.
Senator Kerry is a true national hero.